ISO 20022? SHOULD I CARE?

WHAT IS ISO 20022?
WHY SHOULD I CARE?
The industry is migrating to this new standard to
enable counterparties to improve the consistency
of their communications.
A standardized, internationally agreed upon,
approach for the development of financial
services messages.
WHAT SECTORS ARE MIGRATING?
JUST ABOUT ALL OF THEM!
Industry and regulatory-driven initiatives are underway in:
PAYMENTS
SECURITIES
TREASURY
TRADE
SERVICES
CARDS
FOREIGN
EXCHANGE
SEPA MIGRATION
Initiative to create an integrated payments market across Europe for
any organization or individual making or receiving payments in euros.
SEPA payment formats are based on the global ISO 20022 message standards.
SEPA Credit Transfers
Migrated*
SEPA Debit Transfers
Migrated*
*As of March 2014
SECURITIES FUNDS MIGRATION
Migrate the ISO 15022 messages for funds
(MT 502, 509, 515) to the ISO 20022 equivalent messages.
ISO 20022 for Funds Adoption Rate per Country
ISO 20022 FOR
TRADE SERVICES
CORPORATE TREASURY
& ISO 20022
SWIFT’s Trade Services Utility (TSU)
uses ISO 20022 to support
document matching in:
Migrate Corporates to ISO 20022 as a
single, global payment format.
Purchase Orders
Straight-Through-Processing
with ERP Systems
Invoices
Consolidated Payables File
for Bank Processing
Other Supply
Data Chain
BANK PAYMENT OBLIGATION (BPO)
An ISO 20022-based open account trade settlement instrument.
Offers buyers and suppliers a new method to secure and finance trade transactions.
17
Banking Groups
Ready for the BPO*
25
Corporates Live
on the BPO*
*BPO Adoption as of April 2014
ISO 20022 CARDS MESSAGES
Covers card transactions between and for:
ACCEPTOR AND
ACQUIRER
ACQUIRER
AND ISSUER
SALE SYSTEM
AND POI
TERMINAL
MANAGEMENT
CLEARING AND
SETTLEMENT
FEE
COLLECTION
FOREIGN EXCHANGE ISO 20022 MESSAGES
Will support FX messages* for:
PRE-TRADE
TRADE
POST-TRADE
NOTIFICATION
CLEARING AND
SETTLEMENT
*Currently, there are approved messages only in place for post-trade.
North America: +1 800-560-4347
Europe, Middle East and Africa: +44 (0)1932 776047
Asia Pacific: +852 2884-6088 Japan: +81-3-5574-7545
Email: [email protected]
www.corporatebank.com
Sources: ISO 20022: http://www.iso20022.org/ | European Payments Council: http://www.europeanpaymentscouncil.eu/
SWIFT: http://www.swift.com/products_services/ | European Central Bank: http://www.ecb.int/paym/sepa/
REPORTING &
RECONCILIATION